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02 Mar 2010 2:45 PM:

Hi Marc,

I last posted back in late Jan and kept 'popping' back to see if there were any other replies..... but it took a while before any new posts appeared. It's good to hear from other investors, and get their thoughts. 

Like you say, having invested via IPIN, my thoughts were exiting 'during' the process, rather than go through to build. Clearly the build will require a significant amount of capital and may not be what a potential purchaser likes. Of course at full planning, there is also a large VAT liability to take into account and will need to review the potential benefits.

You did well to take them up on the 'pay early' offer, I'm not sure I had the same level of confidence at that point. I'm looking forward to hearing more at the presentations they plan. 

Thanks everyone for the updates.

Regards, John.



Community thread: The Banks Cash Point Scam

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13 Jan 2010 1:24 PM:

Hi LongtallMartin,

I originally invested through an agent called IPINGlobal (based in Spain). They have kept me reasonably well informed over the last 2 years. It took so long I was beginning to wonder if they would get their planning permission, and like you received a mail on the 23rd Dec to say they had completed the work required for the Outline Planning permission. IPINGlobal have met with MartinClews and attended meetings at the Almansa Town Hall.
 
I sent the material to my Solicitor in Spain (Senor Jaime Montero of BSA-lawinspain). He advised me that they had completed the necessary paperwork as required in the contract. He can be contacted at bsa-lawinspain dot com using his first name (Jaime), he has maintained a watching brief for a number of investors in this project. Clearly he cannot make any recommendations on the investment, but has confirmed they have met the stage requirements. I am currently making arrangements to pay my next stage payment.
 
My last mail from MartinClews stated “Due to the size and nature of the project and the fact that we can now go public, we will be inviting all clients to come to see us in our UK offices for presentations during February or March. For those that cannot attend we will be holding webinars and are in the process of starting a new marketing plan which will include a detailed web site.”
 
Hope this helps. Regards, John


Community thread: The Banks Cash Point Scam

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24 Dec 2009 1:51 AM:

Hi All,

I'm one of the early investors in the project and my contract states Outline Planning by 31st December 2009. 

I received today (23rd December) a document dated the 14th December 2009 and a letter from Mike effectively saying they have made it to the next round. They certainly played it close, but happy to hear that the project is progressing. I have forwarded it to my solicitor to ensure that it does in fact provide the "Outline Planning" permission as stated in the contract.

Unless I misread something, I also believe they have changed the name of the development (which is a shame as I quite liked "Jardin de los Reyes")......

Happy Holidays... Juan (John).



Community thread: The Banks Cash Point Scam

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